MAEC-01
December - Examination 2017
M.A. (Previous) Economics Examination Economic Theory - I
Paper - MAEC-01
Time : 3 Hours ] [ Max. Marks :- 80
Note: The question paper is divided into three sections A, B and C.
Write answers as per the given instructions.
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Section - A 8 × 2 = 16 (Very Short Answer Questions)
Note: Answer all questions. As per the nature of the question delimit your answer in one word, one sentence or maximum up to 30 words. Each question carries 2 marks.
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065
MAEC-01 / 700 / 4 (1) (P.T.O.)
065
MAEC-01 / 700 / 4 (2) (Contd.)
1) Give answer of the following question:
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(i) What is Market demand?
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(ii) Define Budget line.
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(iii) What do you know about production function?
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(iv) Draw a diagram of average variable cost.
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(v) What is opportunity cost?
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(vi) What is Monopoly power?
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(vii) What do you mean by Dumping?
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(viii) Write Hicksian compensation criterion.
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MAEC-01 / 700 / 4 (3) (P.T.O.) 065
Section - B 4 × 8 = 32 (Short Answer Questions)
Note: Answer any four questions. Answer of each question should be given in 200 words. Each question carries 8 marks.
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2) Explain diminishing Marginal Utility.
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3) What do you mean by demand forecasting. Explain.
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4) Discuss Baumol's sales maximization theory.
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5) Explain shut down point by the help of diagram.
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6) Distinguish between indifference curve and Isoquant curves.
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7) Explain internal diseconomies.
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8) Examine the Mark-up pricing.
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9) Discuss the labour supply curve.
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065
MAEC-01 / 700 / 4 (4)
Section - C 2 × 16 = 32 (Long Answer Questions)
Note: Answer any two questions. Answer of each question should be given in 500 words. Each question carries 16 marks.
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10) Describe compensation principle of Welfare Economics.
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11) Discuss in detail the rent theory of Ricardo.
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12) Explain the equilibrium in imperfect collusion in oligopoly.
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13) Explain the price and quantity determination in perfect competition.
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